India Set to Emerge as Third-Largest Economy by 2027, Says Piyush Goyal

Union Minister of Commerce and Industry, Piyush Goyal, declared that India is on track to become the third-largest global economy by 2027 and aims to reach a USD 5 trillion economy within three years. He made these remarks during a webinar hosted by the Merchants' Chamber of Commerce & Industry (MCCI) focused on India's economic ambitions amidst global challenges.

Goyal underscored the alignment of Indian stakeholders with the Prime Minister's vision for Viksit Bharat 2047, highlighting the country's robust defense of national interests and strategic advantages in global sectors. He cited the heightened international stature marked by India's successful Operation Sindhu, which underscores the government's commitment to citizen safety abroad.

Pointing to India's resilience, Goyal emphasized the transformative economic journey from the 'fragile five' to becoming a top global economy, with robust banking, low inflation, and a strong macroeconomic foundation. He stressed the government's dedication to a growth model based on Service, Good Governance, and Innovation, pledging continued support for ambitious young Indians.

(With inputs from agencies.)